Imported from previous forum
Ironbark Unleashes Visual FpML Components for .NET
LONDON, 28 June, 2002 – Ironbark, the FpML protocol specialist has unveiled a suite of Visual FpML components for Microsoft .NET. The components allow complex trading scenarios to be assembled on a Design Surface with compilation to libraries or stand-alone executables, without having to write any code. The software is compatible with ISDA’s latest release of the FpML protocol.
Instead of coding, developers can piece together complex structures from a set of financial Lego blocks based on the FpML model. The financial products are compliant to ISDA’s FpML trade description, the same format used by the electronic trading platforms BlackBird and SwapsWire.
Unlike the equities market, which has already migrated to electronic trading with the FIX protocol, the OTC derivatives markets still rely on fax and telephone. In the UK, the annual cost of processing these transactions is in excess of $2 billion, with over $400 million coming from back office costs alone.
About FpML
Financial products Markup Language (FpML) is a business information exchange standard for electronic dealing and processing of complex financial products, including swaps, derivatives and structured products. The protocol is based on XML (Extensible Markup Language), the standard meta-language for describing data shared between applications. FpML is coordinated by the International Swaps and Derivatives Association (ISDA) the global trade association representing participants in the privately negotiated derivatives industry.
About Microsoft .NET
Microsoft .NET is a software architecture that connects information, people, systems, and devices. The Beta version alone attracted over 4 million developers worldwide. .NET brings an unprecedented level of interoperability to software development with compilers for over 20 programming languages already available. The multiple-language capability of the .NET Framework enables developers to use the programming language that is most appropriate for a given task and to combine languages within a single application.
About Ironbark
Ironbark, a member of ISDA’s FpML Architecture Working Group, is a specialist provider of software and consulting services for implementing the FpML protocol in banks, brokers and corporate treasuries. The company grew from a series of successful implementations of the FpML in banks and electronic trading vendors in London in the United Kingdom.
For a Technical Brief:
For further information:
James Battle
Ironbark Limited
Greenwood House
4/7 Salisbury Court
London EC4Y 8BT
Tel: +44 (0) 777 594 6279
Fax: +44 (0) 20 8789 3358
Web: http://www.ironbark.co.uk